Fauji Bin Qasim Fertilizer reports a huge loss of Rs. 8.37 billion in the FY 2019

Fauji Bin Qasim Fertilizer reports a huge loss of Rs. 8.37 billion in the FY 2019

Fauji Fertilizer Bin Qasim

Fauji Fertilizer Bin Qasim (FFBL) has reported its combined monetary outcomes for the financial year 2019. (huge loss of Rs. 8.37 billion)

Fauji Fertilizer Bin Qasim

The organization has posted an enormous loss of Rs. 8.37 billion in the year because of a flood in money cost, higher viable assessment rate with conceded charge modification and misfortunes made by backups. It had posted a benefit of Rs. 778.10 million a year ago, as indicated by an organization notice sent to the Pakistan Stock Exchange (PSX).

The offers of the organization were posted at Rs. 81.52 billion, up by 5.1% as contrasted and Rs. 77.55 billion recorded during FY 2018 because of an ascent in urea/DAP costs during the year. The expense of offers expanded by 9.2% to Rs. 69.13 billion which brought the gross benefit down to Rs. 12.38 billion, somewhere around 12.9%.

Account cost bounced by 90% to Rs. 9.90 billion from Rs. 5.21 billion recorded during the earlier year. This was because of an expansion in the loan cost and acquiring of the organization. As indicated by Topline Securities’ report, this was because of high-loan fees and higher getting prerequisites because of low money gainfulness.

The nourishment business of the organization, Fauji Foods had posted lost Rs. 5.78 billion, with a gross loss of Rs. 678 million during the year.

Its duty costs hopped 6.5 occasions or 675% to Rs 4.58 billion from Rs 590.6 million recorded in 2018. It has announced a misfortune for each portion of Rs. 6.82 versus income per portion of Rs. 1.68 recorded a year ago.

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At the hour of recording this report, FFBL’s offers at the bourse were exchanging at Rs. 20.12, somewhere near Rs. 0.73 or 3.50% with a turnover of 7.5 million offers on Wednesday.

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